‘Misplaced Priority’ — Yoruba Monarch Cautions EFCC After Cubana Chief Priest’s Arraignment For Naira Abuse

The Oluwo of Iwo, Oba Abdulrasheed Akanbi, has criticised the Economic and Financial Crimes Commission (EFCC) over its recent prosecutions of Nigerians for the abuse of the naira.

On Wednesday, the EFCC arraigned businessman and socialite, Cubana Chief Priest, for alleged abuse of the naira. The anti-graft agency had previously secured the conviction of cross-dresser Bobrisky, for the same offence.

Oba Akanbi advised the commission to focus on comprehensive public education about the proper handling of the naira before enforcing penalties for violations.

In a statement on Wednesday, the traditional ruler said many Nigerians are unaware of the acts that constitute naira abuse.

He pointed out that the practice of spraying naira notes is common during cultural events like weddings, naming ceremonies, and funerals, particularly among the Yoruba and Igbo ethnic groups.

Oba Akanbi described it as a “cultural habit” in these communities.

Oluwo urged the EFCC to exercise caution and redirect its efforts towards public enlightenment on the appropriate use of the naira and the consequences of mishandling it.

The statement reads, “While commending the operatives of the Economic and Financial Crimes Commission (EFCC) for their efforts so far in recovering billion of stolen naira, I urge the commission to conduct comprehensive enlightenments for Nigerians on naira handlings.

“The recent litigations by the EFCC against naira abuse is a misplaced priority. The practice of spraying money is more cultural to the Yorubas and Igbos. There is a cultural spirit in Yoruba that forces you to spend money uncontrollably at your exciting moment. I’m sure the spirit will be tamed when people have public knowledge of possible penalties for naira abuse.

“The commission should not place cart before the horse. EFCC should device both print and electronic media to enlight the public on those acts constituting naira abuse and spell out penalties. The public knowledge will unavoidably caution individuals and empower the commission to identify and punish arrogant naira abusers.”